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I have no idea about an estimate, but (you knew someone would say this) don't think it would be at all cost-effective.
1990 was the last year a manual was offered in the American-spec 7-Series; selling your 1989 and using the conversion money to buy one of the [exceedingly] rare 5-speed versions would probably be a more fruitful option (as well as buying a manual 5-Series).
Unless you're attached to your car...
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